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ICC officially launched the URBPO rules with a 'BPO' event in Paris.
17/05/2013
The rules become effective on 1 July 2013. At the launch, it was announced that the new ISBP publication should be available from around 20 June 2013.
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Latest Question
Under a transferable credit the first beneficiary is allowed to substitute only invoice and draft. If the first beneficiary only substitutes its own drafts for those of the second beneficiary but does not substitute its own invoices, after the issuing bank receives the documents, how to describe the discrepancy? A. The second beneficiary invoices presented I/O the first beneficiary invoices. B. The beneficiary invoices not presented. C. Presented invoices not issued by the beneficiary and not made out to the applicant.
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